The Bangladesh disaster attracted a lot of public interest and media scrutiny, and the proponents of the safety pact assumed — rightly — that striking while the iron was hot would be the best chance to pressure companies to sign on to the deal. And it worked, in part: Big European retailers like H&M, Tesco and Carrefour signed up within weeks of the disaster.

But others held out, including the biggest American retailers, who expressed skepticism about the costs and practicality of implementing the deal. And now that the attention has died down, those companies have come out with their own pact: A five-year plan, backed by a $42 million fund, to set up safety standards, a factory inspection system and worker safety training in Bangladesh.

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.